Hensarling Names House Banking Leaders

The House Financial Services Committee of the 113th Congress is coming together, as Chairman-elect Jeb Hensarling (R-Texas) announced his leadership team.

Rep. Gary Miller (R-Calif.) will serve as vice chairman. Miller made news in credit union circles during NAFCU’s Congressional Caucus in September when he said he was offended that the California Credit Union League backed another candidate during his re-election bid.

Rep. Shelley Moore Capito (R-W.V.) will serve as chairman of the Financial Institutions and Consumer Credit Subcommittee. Capito pressed the CFPB to amend a CARD Act rule to allow non-working spouses to apply for credit cards and establish credit in their own names. Rep. Lynn Westmoreland (R-Ga.) will serve in a newly created position as the Committee Whip. Rep. Randy Neugebauer (R-Texas) was named chairman of the Insurance, Housing and Community Opportunity Subcommittee.

Rep. Scott Garrett (R-N.J.) will be chairman of the Capital Markets and Government-Sponsored Enterprises Subcommittee. Rep. Patrick McHenry (R-N.C.) will serve as chairman of the Oversight and Investigations Subcommittee. Rep. John Campbell (R-Calif.) was named chairman of the Domestic and International Monetary Policy Subcommittee.

“I look forward to working alongside my colleagues to pass laws to help foster the deepest, most liquid, competitive, efficient, innovative, and transparent capital markets the world has ever known,” Hensarling said in his announcement last week. “This talented group will play a critical role in that effort as we offer solutions to the challenges faced by America’s struggling economy.” Hensarling also announced plans to combine two existing subcommittees: the Domestic Monetary Policy and Technology Subcommittee and the International Monetary Policy and Trade Subcommittee. On the Democrat side, House Minority Leader Nancy Pelosi (D-Calif.) named six new members to the Financial Services Committee. They include Reps.-elect Bill Foster (D-Ill.), Dan Kildee (D-Mich.), Patrick Murphy (D-Fla.), John Delaney (D-Md.), Kyrsten Simena (D-Ariz.) and Joyce Beatty (D-Ohio).